Inner Mongolia's import-export value hits 19b yuan in first two months
In the first two months of this year, the import and export value of Inner Mongolia's foreign trade reached 19.31 billion yuan ($2.90 billion), an increase of 11.5 percent over the same period last year.
Statistics from Hohhot Customs show that exports were 6.76 billion yuan, an increase of 47.3 percent, and imports were 12.55 billion yuan, a decrease of 1.3 percent.
From January to February, general trade led Inner Mongolia’s imports and exports. The value of general trade was 12.94 billion yuan, an increase of 1.5 percent and accounting for 67 percent of the total foreign trade value of the autonomous region during the same period.
In the first two months of the year, the import and export value of border trade was 3.58 billion yuan, an increase of 10.1 percent; the value of bonded logistics imports and exports was 2.23 billion yuan, an increase of 125.6 percent; and the import and export of the processing trade totaled 520 million yuan, an increase of 113.4 percent.
Inner Mongolia's foreign trade with countries involved in the Belt and Road Initiative has increased significantly, with a total trade value of 11.33 billion yuan and an increase of 31 percent.
Its foreign trade with the US has maintained growth, with a total trade value of 930 million yuan, increasing 25.8 percent.
Mongolia and Russia are still Inner Mongolia's main trading partners. Imports and exports to Mongolia totaled 5.24 billion yuan, an increase of 56.5 percent, while imports and exports to Russia totaled 2.57 billion yuan, decreasing 0.4 percent.
In the first two months of 2021, Inner Mongolia's exports were mainly steel, agricultural products and high-tech products, while imports were primarily resource-based commodities.